UPDATE: Wolfe Research Downgrades Williams Companies (WMB) to Peerperform

Wolfe Research analyst Alex Kania downgraded Williams Companies (NYSE: WMB) from Outperform to Peerperform with a price target of $29.00.

The analyst comments "Midstream has outperformed the S&P 500 by 18% over the past 2 months following the run-up in commodities. We are downgrading shares of Williams from Outperform to Peer Perform mainly due to valuation. We believe that the company remains very well positioned as a quality natural gas name with a combination of growth and capital return via the dividend and share buyback. However, the stock is at our target price of $29 and we see less upside from here."

For an analyst ratings summary and ratings history on Williams Companies click here. For more ratings news on Williams Companies click here.

Shares of Williams Companies closed at $29.29 yesterday.

You May Also Be Interested In

• HSBC Downgrades Stellantis NV (STLA:IM) (STLA) to Reduce
• Goldman Sachs Downgrades SkyWest (SKYW) to Neutral
• JPMorgan Starts Kanzhun Ltd (2076:HK) at Overweight